Are insider trading rules the same for information regarding what the Fed news...It is very apparent that the many people were aware of the news yesterday.

Investigation in order?

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I can't speak for anyone else. But I can say that I got wind around 2pm that Fed is going to have an emergency meeting, and at 3:15 or so, I was told that nothing came out that meeting. Of course, being a market neutral strategy, I can't / won't do much with that bit of rumor.

Given the size of market reaction after the discount rate drop was announced, I can say that not a lot of parties knew that the rate was being cut, but a lot of parties knew that fed was focused on the liquidity problem. The rumor was enough to push the market up, that was not surprising.

Who do you think came in and bid Hong Kong up late in Hong Kong afternoon? Who do you think would have known to do that as they do on other occasions?. Fucking bent Fed and all its friends. Filthy rotten to the core US Govt and CEO club. Buying time so they can offload.

Disclosure: Short in a small way and covered with options in case they pulled something like this.

Theyve been talking about it for days, but someone KNEW - just look at Hong Kong which is where they always do the actual positioning - linked to US via peg but not US so more difficult to investigate than if in US. That said yesterday's late US rally was pretty suspicious.

Looks like the rally is petering out again. All the incompetent schoolmaster has done is confirm for the rest of the world that things are as bad as they thought it was and that they should sell US bonds and currency. Obviously there was not a Chapter covering this in the textbooks he reads.